Startup India

Which type of business should startups incorporate?

Company Law - Each unregistered or registered business works below a form and the business is working under what kind of form makes a huge effect on the profits of the business and business as well. Selecting a business form is similar to selecting a car, where various models are available. But you need to pick one which is best for you....

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What is Investors Pitch Deck?

Company Law - This article is meant for the ‘startups’ who wish to enter into the market after having the sound business plan and wants to raise the funds for bringing their plans into reality. But the first step in order to approach is preparing the ‘Investor pitch deck’. What is “Investor pitch deck” Have you completed with […]...

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ESOP – A Motivational tool for Startups

Company Law - Traditionally, ESOPs were given to remunerate senior employees and to acknowledge their proven contribution to the company. However, in modern times, ESOPs are used as a consideration as Startups can’t afford to spend high salaries in the beginning. Employee Stock Options in India has gained immense popularity in the recent times with t...

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How to Get Your Start Up Recognized: In Light of New DIPP Notification

Company Law - In a lay man language, a startup company (startup or start-up) is an entrepreneurial venture which is typically a newly emerged business that aims to meet a marketplace need by developing a viable business model around an product, service, process or a platform. A startup is usually a company designed to effectively develop and validate a...

Read More

DIPP’s move- giving ‘wings’ to angel investors?

Company Law - Startups are of great significance for any economy as they are collectively one of the major emerging source of revenue and employment. Many governments from across the world have been going out of their way to facilitate the entrepreneurial dream. Even India took initiative to support startup dreams by means of its flagship Make in India...

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Sec. 79 Carry forward and set off of loss in case of eligible startups: Provide further relaxation

Company Law - The Finance Act, 2017 amended section 79 to provide that where a change in shareholding has taken place in a previous year in the case of a company, not being a company in which the public are substantially interested and being an eligible start-up as referred to in section 80-IAC of the Act...

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Major achievements of Govt Social Security and Credit Schemes

Company Law - Through its Major Schemes, Department of Financial Services is ensuring financial inclusion, providing social security to the people as well as providing credit to various sections of the society. The major achievements of various schemes under the Department are highlighted below...

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Govt creates Funds of INR 10,000 Crores to Support Innovation Driven Start-Ups

Company Law - Start-up Initiative: a Fund of Funds of INR 10,000 Crores to Support Innovation Driven Start-Ups has been Established to be Managed by SIDBI...

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Steps by MCA & DIPP to promote startup India programme

Company Law - Relaxations for companies, including start-ups have been provided through changes in various rules notified under Companies Act, 2013, and include following...

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Startup India Programme & Fund of Funds for Start UPS

Company Law - Startup India Portal and Mobile App: These have been launched as online platform for providing updates, information, recognition and eligibility certificates to Startups and other stakeholders...

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TP- operating cost should be calculated by adjusting abnormal cost incurred on account of Start-up Company

HCL Technologies BPO Services Ltd Vs ACIT (ITAT Delhi) - In the case of HCL Technologies BPO Services Ltd vs. ACIT, ITAT has held that for transfer pricing only amount retained by associates from end user is to be taken into account for transfer pricing adjustment, and to adjust operating cost by excluding abnormal cost incurred on a/c of Startup Company ...

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No Tax on issue of share capital by eligible start-ups at excess premium: CBDT

Notification No. 24/2018-Income Tax - (24/05/2018) - Central Government, hereby notifies that the provisions of clause (viib) of sub-section (2) of section 56 of the said Act shall not apply to consideration received by a company for issue of shares that exceeds the face value of such shares, if the consideration has been received for issue of shares ...

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Sec. 56(2)(viib) not applicable to startups having paid up share capital upto Rs. 10 crore

Notification No. G.S.R. 364(E) - (11/04/2018) - pproval for the purposes of clause (viib) of sub-section (2) of section 56 of the Act -A Startup being a private limited company and in conformity with the definition as per definition stipulated at Para 1(a) shall be eligible to apply for approval for the purposes of clause (viib) of sub-section (2...

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No coercive recovery from Start ups for addition on Share Capital Valuation issue: CBDT

F.No. 173/14/2018-ITA.I - (06/02/2018) - It has been decided that in case of 'Start Up' companies which fall within the definition given in Notification of DIPP, Min. of Commerce & Industry, in G.S.R. 501(E) dated 23.05.2017, if additions have been made by the Assessing Officer under section 56(2)(viib) of the Act after modifying/rejecting...

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Startup: Meaning, Process of recognition and Tax Benefits

Notification No. G.S.R. 501 (E) - (23/05/2017) - In order to obtain tax benefits, a Startup should – i. be a private limited company (as defined in the Companies Act, 2013) or a limited liability partnership (as defined under the Limited Liability Partnership Act, 2008) which is incorporated on or after the 1st day of April, 2016 but before the ...

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Self-certificate compliance regime for Start-ups extended to five years

Circular No. CAIU/011/(34)2016/3806 - (16/05/2017) - For the first year of setting up of the Start-ups such establishments may not be inspected under any of the 6 Labour laws (viz. BoCW Act, ISMW Act, Payment of Gratuity Act, Contract Labour Act, EPF Act and ESI Act). These start-ups may be asked to submit an online self-declaration instead....

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Startup India’s Popular Posts

Recent Posts in "Startup India"

Which type of business should startups incorporate?

Each unregistered or registered business works below a form and the business is working under what kind of form makes a huge effect on the profits of the business and business as well. Selecting a business form is similar to selecting a car, where various models are available. But you need to pick one which is best for you....

Read More
Posted Under: Income Tax |

What is Investors Pitch Deck?

This article is meant for the ‘startups’ who wish to enter into the market after having the sound business plan and wants to raise the funds for bringing their plans into reality. But the first step in order to approach is preparing the ‘Investor pitch deck’. What is “Investor pitch deck” Have you completed with […]...

Read More
Posted Under: Income Tax |

No Tax on issue of share capital by eligible start-ups at excess premium: CBDT

Notification No. 24/2018-Income Tax (24/05/2018)

Central Government, hereby notifies that the provisions of clause (viib) of sub-section (2) of section 56 of the said Act shall not apply to consideration received by a company for issue of shares that exceeds the face value of such shares, if the consideration has been received for issue of shares from an investor in accordance with the ...

Read More

ESOP – A Motivational tool for Startups

Traditionally, ESOPs were given to remunerate senior employees and to acknowledge their proven contribution to the company. However, in modern times, ESOPs are used as a consideration as Startups can’t afford to spend high salaries in the beginning. Employee Stock Options in India has gained immense popularity in the recent times with t...

Read More
Posted Under: Income Tax |

How to Get Your Start Up Recognized: In Light of New DIPP Notification

In a lay man language, a startup company (startup or start-up) is an entrepreneurial venture which is typically a newly emerged business that aims to meet a marketplace need by developing a viable business model around an product, service, process or a platform. A startup is usually a company designed to effectively develop and validate a...

Read More
Posted Under: Income Tax |

DIPP’s move- giving ‘wings’ to angel investors?

Startups are of great significance for any economy as they are collectively one of the major emerging source of revenue and employment. Many governments from across the world have been going out of their way to facilitate the entrepreneurial dream. Even India took initiative to support startup dreams by means of its flagship Make in India...

Read More
Posted Under: Income Tax |

Sec. 56(2)(viib) not applicable to startups having paid up share capital upto Rs. 10 crore

Notification No. G.S.R. 364(E) (11/04/2018)

pproval for the purposes of clause (viib) of sub-section (2) of section 56 of the Act -A Startup being a private limited company and in conformity with the definition as per definition stipulated at Para 1(a) shall be eligible to apply for approval for the purposes of clause (viib) of sub-section (2) of section 56 of the Act, if the follo...

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Simple Steps to Recognition / Register Your Start-Up in Start-Up India Portal

The process of recognition as a ‘Start-up’ shall be through an online application made over the mobile app/ portal set up by the Department of Industrial Policy and Promotion. Entities will be required to submit the online application along with the Certificate of Incorporation/ Registration and other relevant details as may be sought...

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Posted Under: Income Tax |

Decoding amended S. 80-IAC (Startup Section) of I-T Act, 1961 – Commercial Viability vs, Legal Provisions

Though well intentioned, the startup booster provisions of Section 80-IAC lacks commercial viability and therefore amendments made to S. 80-IAC won’t be able to yield desired results in terms of employment generation and wealth creation...

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Posted Under: Income Tax |

No coercive recovery from Start ups for addition on Share Capital Valuation issue: CBDT

F.No. 173/14/2018-ITA.I (06/02/2018)

It has been decided that in case of 'Start Up' companies which fall within the definition given in Notification of DIPP, Min. of Commerce & Industry, in G.S.R. 501(E) dated 23.05.2017, if additions have been made by the Assessing Officer under section 56(2)(viib) of the Act after modifying/rejecting the valuation so furnished under Rule 1...

Read More
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